Seven Wells Fargo Advantage Funds Win Lipper Fund Awards

SAN FRANCISCO--(BUSINESS WIRE)-- Wells Fargo Funds Management, LLC, the investment advisor to Wells Fargo Advantage Funds®, announced today that seven of its funds were recipients of 2013 Lipper Fund Awards for consistent returns. Six of the seven funds recognized are multi-year Lipper Fund Award winners, including the Wells Fargo Advantage Growth Fund and two national municipal fixed-income funds.

"We are pleased to have been recognized by Lipper for the strong performance of our funds, most of which are receiving a Lipper Fund Award for a second consecutive year," said Karla Rabusch, president of Wells Fargo Funds Management. "We believe our history of winning these awards is a testament to the overall strength of our product line as well as a reflection of our commitment to providing top-tier investment solutions for our clients."

Below is a list of the Wells Fargo Advantage Funds that received 2013 Lipper Fund Awards for consistent returns (as of 12-31-12).

Fund

Lipper classification

Award (3, 5, or 10 year)

Portfolio managers

Wells Fargo Advantage Asia Pacific Fund, Investor Class

Pacific Region Funds

10-year period (out of 19 funds)1

Anthony Cragg and Alison Shimada

Wells Fargo Advantage Growth Fund, Institutional Class*

Multi-Cap Growth Funds

Three-year period (out of 443 funds) and five-year period (out of 372 funds)2

The Lipper Fund Awardsprogram honors funds that have excelled in delivering consistently strong risk-adjusted performance relative to peers. In addition, the Lipper Fund Awards program recognizes fund families with high average scores for all funds within a particular asset class or overall. The Lipper Fund Awards recognize funds in 23 countries in Asia, Europe, the Middle East, and the Americas. Lipper designates award-winning funds in most individual classifications for three-, five-, and 10-year periods and fund families with high average scores for the three-year time period. The top three-year classification winners and fund family winners receive trophies.

In 2012, the Wells Fargo Advantage Asia Pacific Fund, Investor Class, was named the Best Pacific Region Fund (out of 20 funds) for the 10-year period. In 2011, the Wells Fargo Advantage Asia Pacific Fund, Investor Class, was named the Best Pacific Region Fund (out of 19 funds) for the 10-year period.

In 2012, the Wells Fargo Advantage Growth Fund, Institutional Class, was named the Best Multi-Cap Growth Fund (out of 328 funds) for the five-year period.

In 2012, the Wells Fargo Advantage Municipal Bond Fund, Investor Class, received an award. The fund was named the Best General Municipal Debt Fund for the 10-year period (out of 158 funds). In 2011, the Wells Fargo Advantage Municipal Bond Fund, Administrator Class, received two awards. The fund was named the Best General & Insured Municipal Debt Fund for the three-year period (out of 213 funds) and the five-year period (out of 195 funds).

In 2012, the Wells Fargo Advantage Short Duration Government Bond Fund, Institutional Class, was named the Best Short U.S. Government Fund (out of 71 funds) for the five-year period.

In addition to receiving a Lipper Fund Award this year, the Wells Fargo Advantage Short-Term Municipal Bond Fund also received two awards in 2012. The fund's Institutional Class shares won the Best Short Municipal Debt Fund for the three-year period (out of 63 funds), and the Investor Class shares won for the 10-year period (out of 35 funds). In 2011, the Wells Fargo Advantage Short-Term Municipal Bond Fund, Investor Class, received three awards. The fund was named the Best Short Municipal Debt Fund for the three-year period (out of 60 funds), the five-year period (out of 55 funds), and the 10-year period (out of 32 funds).

In 2012, the Wells Fargo Advantage Specialized Technology Fund, Administrator Class, was named the Best Science & Technology Fund for the 10-year period (out of 94 funds).

*The Wells Fargo Advantage Growth Fund is closed to most new investors. For further information, please see the section titled "Additional Purchase and Redemption Information" in the Statement of Additional Information.

Stock values fluctuate in response to the activities of individual companies and general market and economic conditions. Bond values fluctuate in response to the financial condition of individual issuers, general market and economic conditions, and changes in interest rates. In general, when interest rates rise, bond values fall and investors may lose principal value. Some funds, including nondiversified funds and funds investing in foreign investments, high-yield bonds, small- and mid-cap stocks, and/or more volatile segments of the economy, entail additional risk and may not be appropriate for all investors. Consult a fund's prospectus for additional information on these and other risks.

For municipal income funds: A portion of the fund's income may be subject to federal, state, and/or local income taxes or the alternative minimum tax (AMT). Any capital gains distributions may be taxable.

Performance for certain Wells Fargo Advantage Funds reflects a predecessor fund's performance and may be adjusted to reflect the Wells Fargo Advantage Fund's sales charges and/or expenses. Predecessor fund information can be found in each fund's prospectus.

Administrator Class, Institutional Class, and Investor Class shares are sold without a front-end sales charge or contingent deferred sales charge.

Carefully consider a fund's investment objectives, risks, charges, and expenses before investing. For a current prospectus and, if available, a summary prospectus, containing this and other information, visit wellsfargoadvantagefunds.com. Read it carefully before investing.